Both companies are questionable, and you have a right to be suspect.

Any firm worth its salt will pay for your training if they think you are worth it.  Have her move on.

Northwestern Mutual is cold calling from a phone book

If you're going to do that, go to a wirehouse

Depending on who is strong in your area:

Wells Fargo Advisors

Edward Jones

MetLife

I work for First Investors right out of college.

They hire anyone that has a pulse. I did not know that then. I was just greatful to be in the industry. This is going back to 1992.

I worked there for 2 years then went to Smith Barney.

Stay away from First Investors. I learned alot but not the best place to start.

Northwestern will have her selling whole life policies first...investments is secondary.

I forgot...We use to call them First Embezzlers.

What does your daughter want to do?  I understand being a father and wanting to guide/give advice, but part of me asks myself, "why isn't the daughter posting this?"  Are you going to help her market too?  Make her do her research on the business and pitch to you why she wants to work for a particular firm.  It's hard enough for someone right out of school to make it in the industry, I would make 100% sure she is totally bought in with the decision SHE made.  Just my $.02 from hiring 100+ college grads through the years...  And, I would have her go to one of the top 3 firms out there.  If she's got a good school and activities on her resume, and presents herself well, she should have a salary of $40-60k and training/licensing is paid.

One other thought.  The best grads have jobs lined up 6 months before graduating.  I would have her prepared for the question she has to be getting, "why are you still looking?'"  And the only answer she should give is,something along the lines of  "This is the only firm I want to work for, and I spent a lot of time talking to FAs that work for you guys, and I wanted to finish school strong".

jeroly,

I would suggest having your daughter look at Fidelity Schwab, USAA, TD Ameritrade, Vanguard to find an entry level job with a base pay (30K), comprehesnive employee benefits plans, and complete training to get the Series 7 and 63, and the opportunity to learn the business. These companies are actively hiring. You can also look at the insurance companies, but those salaries will eventually go away and straight commissions will be the compensation plan after probably 12-24 months.

After a few years, she can decide if she likes the industry, wants to take a different tack, etc....Get the experience, build credit, get a real education. Unless she went to IVY school or tier one school ( Berkeley, Univ of Mich, UNC), she will get better training with a established company than what she got over the last 4 years.

she could consider MSSB - they have a good training program and they will pay for it.

How about pole dancing at night?

Seriosuly Dad your daughter is a smart girl but she is going to have to make these decisions on her own.  I give you some credit for helping her research some ideas but most college students do not dream of sales jobs at the end of the day.  I guess she is getting a degree in B.A.

She is going to find her own way.  If she wants to work as an advisor she is going to over come a lot of objections as a 22 year old female breaking into the ole' boy's club.  In order to do that she can't have Dad pointing the way.  I would encourage her to talk to the investment companies.  Apply at the area mutual fund companies and work her way up.  Unless he degree is a B.A., then call Edward Jones and send her knocking on strangers door.  Hopefully some sicko doesn't grab her.

Hey Jer,

Ignore the idiot suggesting Pole Dancing and your daughter being assaulted.

I admire your desire to help your daughter as she gets started in the work world.  

She should look at Ameriprise to start.  They will test her to see if she has the "personality for selling" among other things. If she gets sponsored then her objective will be to obtain Series 7 and Series 66 securities licenses. It will be hard work and she will soon find out if she has what it takes to cold call etc.

Next she needs to work on obtaining her Certified Financial Planner designation (2-3 years of work).

Finally, if she has the intestinal fortitude I suggest obtaining her MBA (I obtained mine at night after work over a three year period).

She will then be set to obtain many different career positions in the Financial Services Industry.

[quote=comptonplaya]

Hey Jer,

Ignore the idiot suggesting Pole Dancing and your daughter being assaulted.

I admire your desire to help your daughter as she gets started in the work world.  

She should look at Ameriprise to start.  They will test her to see if she has the "personality for selling" among other things. If she gets sponsored then her objective will be to obtain Series 7 and Series 66 securities licenses. It will be hard work and she will soon find out if she has what it takes to cold call etc.

Next she needs to work on obtaining her Certified Financial Planner designation (2-3 years of work).

Finally, if she has the intestinal fortitude I suggest obtaining her MBA (I obtained mine at night after work over a three year period).

She will then be set to obtain many different career positions in the Financial Services Industry.

[/quote]

That's good advise.  Most don't make it in this business let alone a 22 year old female.

Your instincts are correct,

I would advise your daughter to look elsewhere. 

http://www.armydiller.com/financial-scam/index.htm

Best of luck!!